Joe Morgan, National League comeback player of the year, is coming back east, traded with left-handed reliever Al Holland by San Francisco to Philadelphia for right-hander Mike Krukow and two minor leaguers.

The deal was struck in Hawaii last week but held up while the Phillies dickered with Morgan, who was set to take the Giants to arbitration over their $450,000 salary offer against his demand of $600,000. Philadelphia evidently gave him closer to the latter in a two-year pact, first year guaranteed, to play second base, for here comes Morgan to rejoin old Cincinnati infield partner (third baseman, then) Pete Rose. So it will be a young-in-heart right side, 1972-76 MVP Morgan, 39, and first baseman Rose, 42 in April, in front of the right fielder by way of the Manny Trillo trade with Cleveland, Von Hayes.

Bill Giles, Phillies president, sounded as happy to land Holland, highly effective in the Giants' NL West stretch drive, as Morgan, who hit.289 in '82. Holland was 7-3, 3.33 ERA, five saves; Krukow, in his one Philly season, was 13-11, 3.12, but goes west with lefty Mike Davis, 5-12 at AAA Oklahoma City after a siege of arm trouble, and Carolina League outfielder Charles Pennigar, 19...

In Kansas City, the Royals tell George Brett they won't bow to his demands to be traded if not given a "lifetime" contract. "A contract," says G.M. John Schuerholz, is a bilateral agreement" -- and binding on Brett, who in 1979 signed for 1982-86 at $1 million a year.